Mobidiag

Mobidiag, based in/ Finland, France develops and markets PCR-based tests to diagnose acute conditions, including gastrointestinal and respiratory infections, monitors microorganisms' resistance to antimicrobials, and tracks in-hospital infections.

History

2021: Hologic bought Mobidiag for $795 million

In early April 2021, Hologic acquired the developer of diagnostic systems Mobidiag for $795 million. The company did not disclose the detailed parameters of the transaction.

Mobidiag platforms - Amplidiag and Novodiag - are automated tools that enable rapid PCR analysis to determine the type of microorganism. According to the developers, the time to obtain the result of the analysis using these systems is from 50 minutes to two hours. In addition, the Novodiag platform combines real-time PCR and microarray capabilities to provide multiplexing, which allows the identification of several pathogens in a single sample.

Hologic acquired Mobidiag for $795 million

Hologic said it plans to invest considerable funds in the development of new analytical systems to stimulate the growth of the Novodiag platform. As part of the transaction, Hologic will pay about $795 million, including a cash payment of $714 million for the company itself and about $81 million to repay Mobidiag's debt. Hologic plans to finance the acquisition with cash and borrowing from an existing credit line. The deal is expected to close early in the fourth quarter of fiscal 2021.

One of our key goals is to create a large and fast-growing company, "Steve MacMillan, chairman, president and CEO of Hologic, explained in a press release. - Mobidiag's platform will bring us long-term benefits by allowing us to enter the emergency care market, which is set to double over the next five years.[1]

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